According to a recent study conducted by the Royal Institute of Chartered Surveyors, the property industry is likely to see wide-scale adoption of cloud computing in the near future.

The study, entitled The Role of Cloud Computing in Commercial Property, suggested cloud-based services will help property companies simplify and streamline many of the tedious tasks involved in managing and maintaining in-house IT infrastructure.

A motivating factor for many property companies adopting cloud computing will be pressure to reduce costs, the study said. In addition to cost reduction, cloud-based applications offer property professionals the ability to access important data off-site and while visiting clients.

“The impending impact of businesses adopting the cloud will be far reaching for the property profession," said Andrew Waller, spokesperson for RICS. "Organizations that choose to adopt these virtual IT systems will be able to reduce their running costs and smaller businesses will be able to access systems which would otherwise have been beyond their financial means,” he added.

The property industry is one of many sectors in which cloud computing adoption is expected to grow. According to a recent study conducted by the Centre for Economics and Business Research, cloud computing will lead to revenue of more than $1 trillion across a range of industries in key European economies by 2015.